Olive Resource Capital Announces Results of Annual and Special Meeting of Shareholders

Toronto, September 26, 2024 - Olive Resource Capital Inc. (TSXV: OC) ("Olive" or the "Company") is pleased to announce the results of its Annual and Special Meeting of Shareholders (the "Meeting"), held on September 25, 2024. At the Meeting, incumbent directors Derek Macpherson, Samuel Pelaez, Jeffrey Singer, and Evelyn Foo were re-elected as directors of Olive. Jacob Willoughby was elected as a new director replacing David Regan who did not stand for re-election. All other items put forth at the Meeting were also approved, including the re-appointment of the Company's auditors, as well as the approval of the Company's incentive stock option plan.

Derek Macpherson, Executive Chairman stated: "We would like to welcome Jacob Willoughby to the board. We believe his technical knowledge, experience evaluating mining companies, and history working in junior mining should be a valuable addition to our investment process. Additionally, his previous experience in small entrepreneurial companies like Olive, should enhance development of our go-forward strategy and execution."

Samuel Pelaez, the Company's President, CEO, CIO and Director stated: "We would like to thank David Regan for his years of service as a Director to Olive. David was influential in the restructuring of the old Norvista Capital Corp. that resulted in the appointment of new management, the re-setting of the Company's strategy, and the renaming to Olive Resource Capital. We wish David all the best with his future endeavours."

Mr. Jacob Willoughby, holds degrees in Geology and an MBA from the University of Windsor, Ontario. Jacob has 20 years of experience in mining capital markets having been a published mining analyst at three different Toronto based broker dealers as well as over five years of experience as a consultant to mining companies. Additionally, he has senior corporate management experience at junior mining companies and has previously been a corporate director as well. Most recently, Mr. Willoughby occupied the role of Vice President of Corporate Development and Strategy at Battery Mineral Resources Corp. based in Toronto.

Olive experienced technical difficulties with the dial-in conference line for the Meeting. As disclosed in the information circular dated August 9, 2024, only shareholders who attended in-person were entitled to vote at the Meeting. As a result, quorum was achieved and the Meeting was regularly called and properly constituted for the transaction of business. The Company apologies for any difficulties, and shareholders with any questions regarding the Meeting are encouraged to contact the Company using the contact information provided below.

About Olive Resource Capital Inc.:

Olive is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The Company's assets consist primarily of investments in natural resource companies in all stages of development.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should", "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Olive to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Olive believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and those risks set out in the Company's public documents filed on SEDAR. Accordingly, readers should not place undue reliance on forward-looking information. Olive does not undertake to update any forward-looking information except in accordance with applicable securities laws.

This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. The information provided in this recording has been obtained from sources believed to be reliable and is believed to be accurate at the time of publishing but we do not represent that it is accurate or complete and it should not be relied upon as such.

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